Pistons re-sign Billups

Terms of the deal were not released, but last Friday, the Detroit Free Press reported Billups and the Pistons agreed on a five-year, $60.5 million contract with the fifth year being a team option.

"We are pleased to have reached an agreement with Chauncey Billups," said Pistons president of basketball operations Joe Dumars. "We have said from day one that re-signing Chauncey was our top priority of the offseason and we are excited that he will be a Piston for years to come."

Billups had opted out of his contract on June 25, making himself one of the top unrestricted free agents on the open market. He was in the final year of his six-year deal and was slated to make over $6 million in 2007-08.

Last season, Billups averaged 17.0 points and 7.2 assists per game.

Originally the third overall pick in the 1997 NBA Draft by Boston, Billups has averaged 14.5 points and 5.3 assists with the Celtics, Toronto Raptors, Denver Nuggets, Minnesota Timberwolves and Detroit Pistons.

He has found a home over the last five seasons in Detroit, guiding a Pistons team that has turned into perennial playoff contenders and won it all in 2004.